Three years of sustained growth in profits and income at law firms have now come to an end, according to accountancy firm MHA’s latest annual Legal Benchmarking Report. It reports that, in 2017, law firms of all sizes from sole trader practices to firms with more than 25 partners saw their income fall. Mid-tier firms—those with 11 to 25 partners—saw the largest reduction, with a drop of 11% from 2016. Karen Hain, MHA’s head of professional practices, said: ‘Our research paints a challenging picture for many firms. Efficiency needs to be a key theme for 2018 and beyond.’
18 May 2018
Growth trend comes to an end
MOVERS & SHAKERS
Anthony Collins—20 promotions
20 promotions mark major people investment at national law firm, Anthony Collins
Sidley—Elaine Whiteford
Sidley adds competition litigator Elaine Whiteford in London
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Charles Russell Speechlys welcomes Claudina D’Costa as Director of Client Development Marketing
NEWS
The 25th Pro Bono Week begins today until 6 November, with events hosted by law firms, chambers, law schools and charities across the UK
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Judges risk weakening their own independence by staying silent over government reforms, a leading public lawyer argues
A discount on damages does not automatically mean an equivalent haircut for legal costs in military deafness claims
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